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OptionsXO was another promising binary options broker that offered standard options including one-touch, short-term and high/low. Intraday expiry was also available for some assets…
OptionsXO was known for the provision of High Yield Options promising up to 360% profit through Above/Below feature. The website had a separate education section to guide its clients about the smart use of High Yield Options.
It was an impressive online trading platform but something went wrong mid-way and the website went down. It was available until 2017 but nothing was operational. Now you can’t even access the domain. But what went wrong? Are the OptionsXO scam complaints true? Why should you avoid an unregulated broker? What does this story teach us? Through this review, we’ll try to present the answers to the above questions.
Whilst we have conducted a thorough review into OptionsXO we appreciate that you likely came here looking for some specific information in particular & so to make things easier for you we’ve put together some quick navigation links below.
- OptionsXO Background
- Is OptionsXO Regulated?
- OptionsXO Complaints
- OptionsXO Withdrawal
- Is OptionsXO a Scam?
- Our Verdict on OptionsXO
- Get Your Money Back From OptionsXO
- Our Suggestion For Making Good Money Online
Omni Global Solutions (SRL Bucharest) operated OptionsXO from Romania. Nothing specific was mentioned on the website. Even it didn’t mention the role of Omni Global Solutions. It was just a name with an address.
When everything was going alright, OptionsXO made a strange move by changing the investment requirements in 2016. As per the new requirements, you could open the Mini Account with a minimum deposit of $250 instead of $200. The Silver Account required $5,000 instead of $2,000. The Gold Account required $25,000 instead of $10,000. Earlier, there was a VIP account for $25,000 and above and it was replaced by the Platinum account that required $50,000.
The new terms were highly discouraging for the beginners. The revised amounts were over x2 as compared to the previous policy. It could have been an apparent reason behind the decline of the broker. But we don’t see it that way! We think that it was a smart move to attract more and more funds before making an escape.
Is OptionsXO Regulated?
If you go through some old OptionsXO reviews, you’ll notice that the reviewers praised this platform for multiple reasons. We are surprised to see how some reviewers trust an unregulated broker without waiting for the right moment. Even three years back, it wasn’t clear if the broker was a scam or not.
OptionsXO was NOT regulated. If anything attracted the traders, it was nothing else but a highly professional and delicate web-layout. The support team also worked well during the initial phase.
During March 2016, some fake reviews were uploaded on different forums claiming that the broker had filed for CySEC regulations. The news spread across the internet and it resulted in more and more traders getting registered with OptionsXO. This was the time when the broker revised its deposit requirements.
August 2016 marks the decline because the fake news lost its worth and people realized the truth, but it was too late for the existing clients to withdraw their money. The website wasn’t accessible from Central Europe. Nobody knew what was going on, and the traders could only hope for a miracle that never happened in the case of an escaped scam artist. The website went down in other regions and it was clear that the illusion had been concluded. Traders had no way to access their accounts, their money was snatched away, and there was nobody to refer to.
Some of the OptionsXO reps promoted the broker by establishing a fake link with 24Option. In 2015, the broker’s representatives tried to bribe the FPA website administration for removing the complaints against OptionsXO.
Most of the complaints flooded in Aug. 2016. Before that, the clients were given the sweet lollypop by promising a CySEC regulation. The support team continued to convince the clients that the case had been filed and the broker will become regulated in a matter of days. Nothing happened for five months.
You can anticipate the nature of serious complaints. The broker had escaped, the website was frozen, and there was no way to access funds. This is why, since 2016, we found all the complaints mourning on the same story, no withdrawals, fraud, scam, banditry, and theft. All complaints revolved around the mentioning of the amount a trader lost on this platform.
OptionsXO required identification documents before the first withdrawal. After that, you could submit the withdrawal request. $100 was the minimum bar and $25 were charged as the processing fee for wire trader. It took from 4 working days to 7 working days to complete the process.
Is OptionsXO a Scam?
Oh yes! Another case of the same old-style illusion. The tricksters got away with millions. OptionsXO scam reality was known too late! People kept ignoring the warnings against this unregulated broker. The broker managed to attract more traders by spreading a rumour on the internet. Same pattern, same planning, same result! Wahooo! What an easy way to snatch people’s money without even giving a hint of a fraudulent activity.
Our Verdict on OptionsXO
It is too late to suggest anything because the crime has already been done. We are almost convinced that opening an online brokerage service is perhaps the top-notch “get-rich-quick” scheme. Not for the traders, but for the self-acclaimed brokers. It is amazing to see how easily these traders tend to trust on cold callers. We don’t see a logical reason though!
Try to borrow $500 from your friends and see how many trusts you. No matter how close you are to them, people don’t easily lend their money, even if they do, they keep reminding about their virtue for the rest of your life. How come the same individual with the same mindset trusts on an online platform has no legal status, no authority and no proof of legitimacy? Sit, relax, think, and try to find an answer! If you reach a logical conclusion, please share with us!
Get Your Money Back From OptionsXO
Have you fallen victim to the OptionsXO scam? There is no need to be embarrassed, there were many people caught out by the scam because it was simply so convincing… However the good news is that providing you put any embarrassment aside & take action, there is a good chance that you can recover your lost funds.
We have put together a free money reclaim guide which shows you step-by-step exactly how you can get your money back from scammers and it is especially geared towards binary options scammers.
To date the guide has helped thousands of people to successfully reclaim their lost funds & we therefore know that it can help you too so we highly recommend that you check it out if you have lost money to OptionsXO.
Our Suggestion For Making Good Money Online
Hopefully you were not caught out by the OptionsXO scam – but even so you will likely still be disappointed to hear that it is indeed a scam & that you cannot make money with it… But don’t worry too much because there are actually several other legitimate ways that you can make good money instead.
You see here at Stopping Scammers we’ve investigated various opportunities & whilst we have come across many scams, we have actually come across many legitimate ways to make money too.
There has been 1 opportunity in particular though that has stood out from all of the rest & as a result we have decided to name it our number 1 recommendation for working from home.
So if you are still looking to make money then you can access our number 1 recommendation for free by clicking the link below: